The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
FTSE bouncing from trendline support
The FTSE is moving higher once more this morning, following a selloff into trendline support. The 100-hour simple moving average has accompanied the ascending trendline to give the index another leg higher.
While the trend appears to be slowing down somewhat this week, we remain within an uptrend and, as long as 7269 remains intact, another leg higher seems likely.